BOJ trims purchase of 3-5 year JGBs in its market operation

TOKYO, March 29 (Reuters) - The Bank of Japan trimmed the purchase of three to five-year Japanese government bonds in its regular market operations on Wednesday.

The central bank announced it would buy 380 billion yen ($3.42 billion) in those maturities, down from the previous operation’s 400 billion yen.

The BOJ has been tweaking the amount of JGBs it buys at its operations in an effort to reduce market volatility, which worsened as the central bank purchased large amounts of debt under its easing programme. (Reporting by the Tokyo markets team)